BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $39.75 Average Target Price from Analysts

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $39.75.

Several research firms have recently weighed in on BTAI. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of BioXcel Therapeutics in a research note on Monday, September 15th. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, October 8th. Finally, Zacks Research cut shares of BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th.

BioXcel Therapeutics Stock Performance

Shares of BTAI stock opened at $1.86 on Friday. The firm has a market capitalization of $29.78 million, a price-to-earnings ratio of -0.15 and a beta of 0.20. BioXcel Therapeutics has a one year low of $1.17 and a one year high of $12.16. The company has a 50 day moving average price of $2.79 and a 200 day moving average price of $2.46.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The firm had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.21 million. As a group, equities analysts forecast that BioXcel Therapeutics will post -24.39 EPS for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in BTAI. Jones Financial Companies Lllp increased its holdings in BioXcel Therapeutics by 38.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock valued at $97,000 after purchasing an additional 10,000 shares in the last quarter. Foundations Investment Advisors LLC acquired a new position in shares of BioXcel Therapeutics during the third quarter worth about $76,000. SLT Holdings LLC purchased a new stake in shares of BioXcel Therapeutics in the third quarter worth about $76,000. Diversify Wealth Management LLC acquired a new stake in shares of BioXcel Therapeutics in the second quarter valued at about $27,000. Finally, Oaktree Fund Advisors LLC acquired a new stake in shares of BioXcel Therapeutics in the second quarter valued at about $78,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.